1301 N Mansfield Ave is a classic Hollywood multifamily property offered for the first time in more than 40 years. The 19-unit asset occupies a prominent corner lot at Mansfield Ave and Fountain Ave, just west of Highland Ave, placing it in one of Hollywood’s most consistently active rental corridors. Long-term ownership, durable construction, and a central location near major entertainment and employment hubs position 1301 N Mansfield Ave as a stable, income-producing asset with meaningful upside.

The property blends mid-century character with targeted capital improvements, creating an offering that appeals to both tenants and investors seeking long-term durability. Walkability to Hollywood and West Hollywood destinations, combined with proximity to studios, nightlife, and retail, supports sustained rental demand in a submarket defined by limited new supply.

Unit Mix and Interior Profile at 1301 N Mansfield Ave

1301 N Mansfield Ave consists of 19 units with a well-balanced mix designed for the local renter base. The building includes (6) 2-bed / 1.5-bath units, (11) 1-bed / 1-bath units, and (2) studio units. Two units are delivered vacant at close of escrow, allowing a new owner to begin renovations or repositioning immediately.

Units average roughly 800 SF and feature open layouts, oversized windows, and private balconies that bring in natural light. The mix appeals to a wide range of tenant profiles, including entertainment professionals, couples, and long-term renters seeking walkable access to Hollywood amenities. The existing configuration supports both current income stability and future rent growth through selective interior upgrades.

Building Systems and Capital Improvements

Ownership has completed several meaningful capital improvements that enhance operational stability and reduce near-term maintenance exposure. Recent upgrades include a new roof, copper plumbing, completed soft-story seismic retrofit, and SB-721 balcony compliance, buyer to verify. The building has also transitioned to electric appliances, reducing long-term gas exposure and aligning with evolving utility standards.

These improvements provide a strong foundation for future ownership while preserving the architectural character that defines the asset. The scope of completed work allows investors to focus capital on revenue-generating upgrades rather than deferred maintenance.

Financial Profile and Rental Upside

Offered at roughly $223,000 per unit, 1301 N Mansfield Ave delivers a 5.45% CAP rate on current rents with approximately 26% rental upside based on renovated market comparables. Upon stabilization, projected performance reaches a 7.73% CAP and an 8.75 GRM.

The combination of in-place income, near-term vacancy, and proven demand in the surrounding submarket creates a clear path to NOI growth. This structure allows investors to phase renovations while maintaining cash flow, a strategy increasingly favored in today’s financing environment.

Location and Demand Drivers in Hollywood

1301 N Mansfield Ave sits 0.5 miles from Santa Monica Blvd and La Brea Ave and roughly 0.6 miles from the Hollywood and Highland corridor. The property benefits from proximity to major studios, production offices, and entertainment employers that anchor Hollywood’s rental demand.

Tenants are drawn to the area’s walkability, access to dining and retail, and direct connectivity to West Hollywood, Hancock Park, and surrounding employment centers. This location continues to attract renters seeking convenience, lifestyle, and proximity to work, reinforcing long-term occupancy and rent growth.

Conclusion and Success Story

1301 N Mansfield Ave represents a well-located Hollywood multifamily opportunity defined by scale, long-term ownership stewardship, completed capital improvements, and clear rental upside. The combination of a diversified unit mix, immediate vacancy, and durable demand drivers positions the asset as a compelling acquisition for investors seeking both current income and long-term appreciation in a supply-constrained market.

For a detailed look at how 1301 N Mansfield Ave was positioned, marketed, and successfully executed, view the 1301 N Mansfield Ave success story here, which outlines the strategy, buyer engagement, and transaction outcome tied directly to this property.

The Kenny Stevens Team has extensive experience representing Hollywood multifamily assets and can provide additional insight into how 1301 N Mansfield Ave fits within current market conditions and long-term portfolio strategy.